The St. Johns herald., 1887-11-10
Our Financial Condition.

1 permanent baSIs. Before dOlng SO, however, let us briefly glance at our resources and general condi- tion from a statistical standpoint, remarking, in passing, that we have endeavored to be accurate in our figures, obtaining them in all in- stances from official sources.
 Apache county was organized in 1879. We have now population of about (, 6,500-composed, as a rule, of energetic, thrifty, law-abiding citizens, the American element largely predominating. The as sessed valuation of property in 1882 was $987 ,433; in 1887 it is $2, ,540,142 46, showing an increase in five years of $1 ,552, ,7O9 46; or an increase of about thirty per cent per annum. The actual valuation neg, as a matter of fact, is certain ly in excess of $4OO0,OO0. Upon the assessed valuation, which is law, the rate ot taxation for all pur- poses is but three and half per cent Owing to sparsity of popu- lation, some mismanagement in our county affairs, and such other causes as are invariably incident to all re- motely located and newly settled countries, up to July, 1886, there had accumulated. an indebted ness of $l10,000. By an act of the Legislature the county was author ized to fund that indebtedness by issuing bonds 10 run for twenty years, bearing interest at the rate of seven per cent per annum, to be sold at par; and afterwarl, if it is deemed necessary and wise, to fund any other indebtedness which may ihave accumulated in the mean time.
 By correspondence those bonds have been placed on the market, and owing to the excessive tight ness of money in the east, the bonds have not yet been hoated, though we have recently seen letters from the financial agent selected by the county to the effect, that several parties have the matter under ad- visement. The reason why the home holders of warrants do not wish to fund, is, having perfect con fidence in the ultimate payment of those obligations, they are unwill- ing to convert a security bearing ten per cent interest into one bear ing only seven per cent, as is the case with the bonds.
 Since July, 1886, there has ac cummulated a debt of about $30,- GOO, most of which can, and will be paid by or before the 10th of January, 1888.
 The interests of the county are diversified, consisting very largely of cattle breeding, next of sheep, and then of horse raising.
 The agricultural industries are divided in wheat, oats, and small grain cultivation. People are fast obtaining their final papers on their homestead entries of 16O acres. The pre-emption claims of like amounts are rapidly increasing, thus adding real estate as a security for the payment of the bonds.
 There are now, at low estimate, at least 54, ,397 cattle, 116,G44 sheep and 1 4,161 horses in the county. And as the climate is very mild and equable, and the water supply being rapidly developed, Apache county possesses magnificent capacity for the breeding and rearing of cattle, horses and sheep, there never hay ing been any destructive epidemics in the past; it is fair to infer there will be no such destructive causes in the future. We have been, and in all likelihood will be, free from the drouths of Texas and the south, and from the cattle killing, freezing winters of the north. Competent cattle men insist that Arizona is without peer for cattle, sheep and horse breeding and raising-is